August 2014

EBRD Trade Finance e-Learning Programme

Back in May 2010 the European Bank for Reconstruction and Development (EBRD) teamed up with the International Chamber of Commerce (ICC) and launched the Trade Finance e-Learning Programme. The aim is to help issuing banks involved in the EBRD’s Trade Facilitation Programme (TFP) to achieve best international practice in trade finance.

Since the launch, more than 1,000 specialists from over 150 institutions across eastern Europe and Central Asia have taken part.

In December 2011 the Programme was launched in the southern and eastern Mediterranean (SEMED) region.

Further information on the EBRD’s Trade Finance e-Learning Programme can be found at ebrd.coastlinesolutions.com.

At a glance factsWhere our e-Learning Programme operates

Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Croatia, Egypt, FYR Macedonia, Georgia, Jordan, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, Morocco, Russia, Serbia, Tajikistan, Tunisia, Turkmenistan, Ukraine, UzbekistanTotal number of graduates

281

The Trade Finance e-Learning Programme covers all of the ICC traditional trade finance products and Incoterms® rules, which are a key feature of international commercial contracts involving the shipment of goods and provision of services.

The Programme ensures that trade finance professionals in countries where the EBRD works have the requisite skills to issue, process and honour trade products in line with the provisions of the ICC Trade Rules, and includes eight online training modules.

► NEW! Introduction to Trade Finance gives a general overview of the main principles and products.

► Collections: comprehensive training in Collections and URC 522.

► Mentor 600: comprehensive training in Letters of Credit, UCP 600 and ISBP.

► DC Master: advanced training in Letters of Credit.

► ISP Master: advanced training in Standby Letters of Credit and ISP 98.

► URDG Master: advanced training in Demand Guarantees and URDG 758.

► Incoterms® 2010: comprehensive training in Incoterms® 2010.

► Environmental and Social Issues in Trade: comprehensive training in environmental and social issues related to trade finance.

The Programme is funded by the EBRD Shareholder Special Fund. Selected students are awarded scholarships that cover up to 100 per cent of the Programme’s tuition fees.

The flexibility of the Programme allows students up to 12 months to finish the online training modules. Upon completion of all modules the students receive the ICC certificates of achievement.

Thierry Sénéchal, ICC Senior Policy Manager and Secretary of the ICC Banking Commission, says, “Promoting the correct application of ICC Trade Rules is a core objective of the ICC Banking Commission, so we are delighted that the EBRD’s Trade Finance e-Learning Programme has proved such a successful addition to the Bank’s Trade Facilitation Programme.”

Programme contents

ContactEuropean Bank for Reconstruction and DevelopmentOne Exchange SquareLondon EC2A 2JNUnited KingdomTel: +44 20 7338 6000Fax: +44 20 7338 6119www.ebrd.com/tfp

Kamola MakhmudovaTel: +44 20 7338 7731Email: makhmudk@ebrd.com

Brian ChinTel: +44 20 7338 6980 Email: chinb@ebrd.com

The EBRD Trade Finance e-Learning Programme graduation ceremony in Moscow, February 2014

Modern teaching methods for maximum impact The EBRD is complementing traditional teaching methods with something a little more up to date. Through “the Flip” (as it is known in Silicon Valley) students on the EBRD’s Trade Finance e-Learning Programme can now “attend” their lectures online.

Studying online, on a smartphone or on a tablet has distinct advantages. For example, students can review part or all of a lecture/module several times to understand a subject written in a language that is probably not their native tongue (all the subjects are taught in English). Students can relax and advance at their own pace.

The TFP team then aggregates the information on all the banks participating in the Programme and assesses where the knowledge gaps lie according to individual bank, country and region.

The team then arranges targeted face-to-face training workshops with well-known consultants who can address any areas that were perhaps not well understood during the online training.

Since the launch of the Trade Finance e-Learning Programme the TFP team has seen better-targeted trade, better use of products and a better understanding of the risks involved in trade finance. The issuing banks are also better equipped to formulate more specific questions to the TFP team and are able to apply the concepts they have learned in everyday operations.

Student viewsEmilija Georgijevska, Senior Specialist Officer in the International Guarantees Department of Komercijalna Banka Skopje, has been a guarantee specialist since 1990.

“The EBRD’s Trade Finance e-Learning Programme provides the opportunity to spread knowledge and understanding of trade finance rules among practitioners from all over the world. Having been a guarantee specialist in Komercijalna Banka Skopje since 1990, I can say that this is the first time an effort has been made to develop a global language to overcome the barriers to knowledge and best practice among different countries and cultures.

The modules are well-designed, interesting and practical, offering an innovative learning platform, and the flexible online method allows students to work at their own pace, any time and anywhere. The high quality of the study material, explanations and the challenging case studies keep you engaged throughout the course.

This remarkable e-learning project is helping to develop a global understanding of trade finance rules and practices like nothing else before. The awards and prizes keep all students highly motivated and the unique EBRD TFP graduation ceremony helps you to further enhance your knowledge and expand your network of professional contacts.”

Igor A. Kudinov, Head of Documentary Operations at Megabank, Ukraine, was among the best students of his intake back in 2012.

“Participation in the Trade Finance e-Learning Programme was a brilliant chance for me to plunge into the depths of international expertise in documentary operations and trade finance, and to acquaint myself with both profound theoretical professional knowledge and hands-on examples based on real transactions.

Though I’d had several years of professional experience before I enrolled, the Trade Finance e-Learning Programme has not only improved my general understanding of documentary business, regulatory acts of the ICC and practical cases, but also significantly extended my knowledge in this field of banking, allowing me a better grasp of certain nuances of theory and practice of operations.

I would like to thank all the authors of and contributors to the Trade Finance e-Learning Programme, the ICC, Coastline Solutions and the EBRD for the opportunity to understand, work and live better.”